Bankruptcy Regulations 1996
For the purposes of subsections 54D(1) , 55(3A) , 56B(5) and 57(3A) of the Act, the following information is prescribed:
(a) information about alternatives to bankruptcy;
(b) information about the consequences of bankruptcy;
(c) information about sources of financial advice and guidance to persons facing or contemplating bankruptcy;
(d) information about a debtor's right to choose whether the bankruptcy is administered by a registered trustee or the Official Trustee;
(e) a statement that it is an act of bankruptcy for a debtor to present to the Official Receiver, under section 54A of the Act, a declaration of intention to present a debtor ' s petition.
View history note
Hide history note4.11(2)
The information must be factual and objective.
4.11(3)
The Official Receiver must not accept a declaration of intention to present a debtor ' s petition under section 54A of the Act or a debtor ' s petition under section 55 , 56B or 57 of the Act unless the debtor has given to the Official Receiver a signed acknowledgement (which may be included in or appended to the petition) that the debtor has received and read the prescribed information.
4.11(4)
If the debtor presents a petition without having given the acknowledgement, the Official Receiver must:
(a) if the debtor presents the petition in person - give the prescribed information to the debtor; or
(b) if the debtor presents the petition by post - post the prescribed information to the debtor.
4.11(5)
Subregulation (6) applies if a person (the intending petitioner ) intends to present a petition under Division 2 of Part IV of the Act and the intending petitioner is:
(a) unable to read the relevant material, because he or she is:
(i) blind, partially sighted, illiterate or partially literate; or
(ii) insufficiently familiar with the English language; or
(b) unable to sign the petition or the acknowledgment, because of a physical incapacity.
4.11(6)
The petition and the acknowledgement may be signed by another person, who must sign a statement:
(a) if subparagraph (5)(a)(i) applies - that he or she has read the relevant material to the intending petitioner; or
(b) if subparagraph (5)(a)(ii) applies - that he or she has interpreted the relevant material to the intending petitioner in a language with which both persons are familiar; or
(c) if paragraph (5)(b) applies - that he or she believes that the intending petitioner has read and understood the relevant material.
4.11(7)
In this regulation:
relevant material
means the petition, the prescribed information and the acknowledgment.
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